Shares in Germany carmakers are falling for the second consecutive day after an EU competition investigation into collusion between firms threatens to plunge the industry into a fresh crisis.
The allegations centre on the activities of Volkswagen, Audi, Porsche, BMW and Daimler, which are suspected of running secret technology working groups, possibly for decades, in reports which first surfaced in the German press over the weekend.
On Saturday, the European Commission said it was assessing information on the alleged collusion but it still “premature at this stage to speculate further.”
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